Bill Gates, Carlos Slim Announce $150M for Health

The world's two richest men are teaming up with Spain to donate $150 million to fight malnutrition, dengue, malaria and other health problems in Mexico and Central America.

Foundations run by Microsoft co-founder Bill Gates and Mexican telecom magnate Carlos Slim will each donate $50 million to the 2015 Meso-American Health Initiative. The Spanish government will contribute the rest.

Gates, Slim and Mexican President Felipe Calderon announced the initiative at a news conference Monday.

The program also aims to reduce childbirth deaths and help vaccination campaigns in the eight countries in the region.

Slim replaced Gates earlier this year at the top of the world's richest people. Gates dropped to second.